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On Friday, oil prices found themselves stuck in a pancake-like predicament, squashed by the almighty dollar flexing its muscles due to the expected growth in U.S. inflation for July. Meanwhile, the OPEC folks were donning their rose-tinted glasses, peering into a crystal ball and predicting a sunny outlook for global demand.

These prices were all set to strut their stuff for a seventh consecutive week, flaunting their gains like a peacock on parade. However, just when they thought they were on a winning streak, they got a rather severe haircut thanks to that pesky inflation data.

These readings played the part of the mischievous puppeteer, yanking the strings of expectations that the Federal Reserve might just chill on the interest rate front come September.

But alas, even though the readings were waving from above the Fed’s yearly target with a confident grin, it seems like interest rates are putting on their stubborn shoes and preparing to strut around at a higher altitude for a longer encore performance.

UBS, Rivian and Archer Aviation rise premarket; Cano Health falls

U.S. futures edged lower Friday, with investors cautiously awaiting another inflation reading amid uncertainty over future Federal Reserve interest rate decisions.

Here are some of the biggest premarket U.S. stock movers today:

  • News Corp (NASDAQ:NWSA) stock will be in the spotlight after the media conglomerate beat expectations for third-quarter profit, helped by a string of cost-cut measures and strong subscription growth across its professional data and news platforms.
  • UBS (NYSE:UBS) stock rose 4.8% after Switzerland’s largest lender stated that it would not need the around $10 of state guarantees provided to smooth the takeover of its failing rival.
  • Capri Holdings (NYSE:CPRI) stock fell 0.2% after Wells Fargo downgraded the fashion company to ‘equal weight’ from ‘overweight’ in the wake of the announcement that Tapestry (NYSE:TPR) is set to buy the Versace owner.
  • Cano Health (NYSE:CANO) stock fell 47% after the primary-care provider announced plans to cut its workforce by 18%, saying there was “substantial doubt” about its ability to continue operating within a year.
  • Archer Aviation (NYSE:ACHR) stock rose 18% after the air taxi maker settled litigation with Boeing (NYSE:BA), and agreed to collaborate on autonomous technology.
  • Rivian Automotive (NASDAQ:RIVN) stock rose 1.3% after Exane BNP Paribas upgraded the electric car manufacturer to ‘Outperform’ from ‘Neutral’ after the company lifted its annual production guidance Tuesday after reporting a narrower-than-expected loss in the second quarter.
  • DigitalOcean (NYSE:DOCN) stock rose 1.4% after Morgan Stanley upgraded the software company to ‘Equal weight’ from ‘Underweight’, saying the current outlook appears achievable.
  • UBS, Rivian and Archer Aviation rise premarket; Cano Health falls



Cano Health Inc. must have taken a tumble that could rival an Olympic gymnast’s somersaults – a jaw-dropping 50% plunge after the curtains closed on the market’s main act. The primary-care provider and health-management platform seemed to have dropped the mic on its own stage, confessing in a dramatic twist that doubts were swirling like confetti about its ability to stay in the spotlight.

As if rehearsing for a financial thriller, they revealed they were sharpening their scissors to snip away 17% of their workforce. But wait, there’s more – a tantalizing plot twist! They’re also throwing their hat into the “Sale of the Century” ring, entertaining the notion of auctioning off the company or perhaps a neatly tied package of assets.

It’s like they summoned the ghost of business uncertainties past to star in this second-quarter earnings release. Oh, and to add some extra flair, their CEO, Marlow Hernandez, made an exit stage left in June. Shakespeare would be proud of this financial drama!

Stock Analysis

Meet Franklin Financial: The Big Cheese of Banking Shenanigans! This snazzy Nasdaq player, parent to the trusty Farmers and Merchants Trust Company of Chambersburg, is like the Willy Wonka of finance, dishing out commercial, retail, and trust services to Pennsylvania’s finest – from small-time hustlers to do-gooder nonprofits. With a cool USD 1.7 billion in assets, it’s basically the superhero of the financial world, rocking 22 locations across the hood.

Sidekicks in this caper: Partners Bancorp (Nasdaq:PTRS) and First Financial Northwest, Inc. (Nasdaq:FFNW)

But wait, there’s more! Eagle Bancorp Montana sashays onto the scene with its cape of impressive earnings per share and a flashy price-to-earnings ratio. Oh, and that return-on-equity? A dazzling 22%, giving its rivals a run for their money. And guess what? Its revenue, net income, and yield are shooting higher than a rocket, giving investors a golden 3.9% yield. Now that’s one banking magic trick worth investing in!

Ah, the weekend – that magical time when you can indulge in both brunch and brainstorming your financial future. While some are perfecting their mimosa-to-pancake ratio, the savvy few are pondering their own unique ‘investment recipe.’ Whether you’re daydreaming about stocks over your avocado toast or strategizing real estate between sips of coffee, remember, the market may take a break, but your ambition doesn’t. So, while others are catching up on their beauty sleep, you’re wide awake, plotting your way to financial stardom. After all, why settle for ‘Sunday Funday’ when you can have ‘Weekend Wealth-wizards Unite’?